The cabinet on Tuesday agreed to extend an excise tax cut on diesel for another four months to May 20 due to high energy prices and to alleviate costs of living, Deputy Finance Minister Santi Promphat said.
The tax cut of 5 baht per litre will lead to a loss in revenue of no more than 40 billion baht (US$1.21 billion), Mr Santi said.
Finance Minister Arkhom Termpittayapaisith said last week that Thailand’s public debt-to-GDP ratio rose to 61.4% in fiscal 2023, above an earlier estimate of 60.4%, after the inclusion of the Finance Ministry’s total guarantee for the Oil Fuel Fund’s borrowings — tallying 110 billion baht — in the country’s public debt management plan.
